15th Feb 2019 12:36
LONDON (Alliance News) - Shares in NetScientific PLC on Friday said it will be leaving the London Stock Exchange following a failure to find a buyer.
The stock was down 59% on Friday afternoon at 3.30 pence each. A year ago, it was at 58.50p.
In November, the company launched a strategic review, and in December said it had not received any offers for any portfolio firms. Part of the review had deliberated leaving London's AIM market.
The plan is now to become a private firm, due to limited cash, no interest from buyers, and the low chance of getting funds off the market.
Furthermore, a wind-down would also be unlikely to generate any value for shareholders, NetScientific said.
NetScientific will look to reduce costs as much as possible, and then allocate remaining cash to its portfolio.
Related Shares:
Netscientific